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“The annual national average bronze plan premium for a family of 5 (2 adults, 3 children) is $20,000,” the regulation says.
Using the conditions laid out in the regulations, the IRS calculates that a family earning $120,000 per year that did not buy insurance would need to pay a "penalty" (a word the IRS still uses despite the Supreme Court ruling that it is in fact a "tax") of $2,400 in 2016.
Originally posted by snarky412
“The annual national average bronze plan premium for a family of 5 (2 adults, 3 children) is $20,000,” the regulation says.
Depending on the legal implications, seems it would be cheaper to pay the fine.....not sure what would happen if one had to go to the ER tho...
Originally posted by stirling
Why does Obama care cost a sixth of the income of a family making 120,000?
If you can pay it that is.. Owing the IRS isn't a good idea I hear.. I'm kind of screwed.. I still don't understand how I don't own the right to my body..
While the per-person penalty is capped each year, families can still owe more if their income is high enough because the law states that families must pay the greater of either the per-person penalty of 2.5 percent of their taxable income.
Originally posted by VariableConstant
Originally posted by stirling
Why does Obama care cost a sixth of the income of a family making 120,000?
Because pharmaceutical and insurance lobbyists don't pay for themselves.
Who else stands to gain from this nonsense?
Originally posted by Robodoon
IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family
cnsnews.com...
Comment: I guess people are surprised that Obama Care is based on UN Agenda 21 ideas, basically Eugenics.
Obamacare is wanted death, that is what UN AGENDA 21 is... To the elites, the death they need to produce the world they seek to rule as little gods.
edit on 31-1-2013 by Robodoon because: (no reason given)edit on 31-1-2013 by Robodoon because: (no reason given)edit on 31-1-2013 by Robodoon because: I dunt spel tings right al da tim....
Originally posted by Montana
Point number one.... This is CNS, folks.
Point number two... This figure is used in an example on how to determine the amount of the new tax, the IRS does not say that the cheapest plan will be 20,000, it uses that figure in the example.